Stocks in Focus on March 15: Paytm, Reliance, Persistent Systems, Bank of Baroda, DLF and more

The equity benchmarks continued their winning run on the fifth consecutive trading session on Monday, March 14, 2022

Both domestic key stock indices, the BSE S&P Sensex and the Nifty 50, closed after climbing around one and a half per cent. Source: Reuters

The equity benchmarks continued their winning run on the fifth consecutive trading session on Monday, March 14, 2022. Both domestic key stock indices, the BSE S&P Sensex and the Nifty 50, closed after climbing around one and a half per cent. The S&P BSE Sensex advanced 935.72 points or 1.68% at 56,486.02. The Nifty 50 index gained 240.85 points or 1.45% at 16,871.30. In five trading sessions, Sensex has rallied 6.89% while Nifty has gained 6.36%. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Tuesday, March 15, 2022. List of such Stocks:

Wockhardt: The rights issue of the company will open today and close on March 22, 2022. Eligible investors will receive three shares for every 10 shares held as of the record date. The rights shares will be issued at a price of Rs 225 per fully paid-up share.

Paytm: The company in its clarification on the reports claiming it has leaked data to Chinese firms has denied it and said that all data resides within India. It added that the regulator has not expressed any concerns regarding data leaks or access shared with any Chinese firms. PPBL’s data servers are located within India and it proudly supports data localization.

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Reliance: Reliance New Energy Limited, a subsidiary of Reliance Industries Ltd, on Monday said that it has acquired all of the assets of Lithium Werks BV for USD 61 million, including funding for future growth.

Strides Pharma: The proposed founders' revised share purchase plan has been approved and as per the plan the promoter group will acquire 20 lakh equity warrants instead of 40 lakh equity warrants, due to the prevailing global external factors, at Rs 442 per share. With this, the promoter's holding in the company will increase from 1.36% to 3.51%.

Persistent Systems: Persistent Systems Limited through its wholly-owned subsidiaries and affiliates has entered into a Stock Purchase Agreement with MediaAgility India Private Limited and MediaAgility Inc. to acquire MediaAgility Inc. and its subsidiaries in India, UK, Mexico and Singapore. The acquisition is subject to customary closing conditions, which are expected to be completed within 6-8 weeks. The total purchase consideration payable for the acquisition of MediaAgility is $7.17 crore. This includes:

• Upfront payment – $5.32 crore to shareholders, subject to customary adjustments for working capital, debt and cash on closing.

• Earnout – Shareholders of MediaAgility will be eligible for a maximum cumulative earnout of $1.77 crore over the next two years. This amount is contingent on the achievement of certain performance thresholds.

• Retention Payment – Certain key employees will be eligible for an aggregate amount of $0.07 crore over the next two years contingent on employment continuity.

Bank of Baroda: Bank of Baroda (BoB) on Monday said that the merger process of its wholly-owned subsidiary Baroda Asset Management India Limited (Baroda AMC) with BNP Paribas Asset Management India Private Limited (BNPP AMC) has been completed and the merged entity will be named as 'Baroda BNP Paribas Mutual Fund’. The transaction was without any cash consideration. As per the agreement, BoB will hold a stake of 50.1% in the merged entity while BNP AM will hold 49.9% stakes in the Surviving AMC.

PVR: The company has issued its clarification on reports related to the merger with Cinepolis and termed the media reports as speculative in nature and would not like to comment on speculative news appearing in the media. It further added, as a part of its normal course of business, the Company keeps evaluating opportunities on both organic and inorganic basis.

Manappuram Finance Ltd: Manappuram Finance: The Board of Directors will be meeting on March 17, 2022, to consider and approve a proposal to raise funds.

RITES Ltd: Board of Directors of the company on Monday declared the third interim dividend of Rs. 7.50 per share. Further, it also fixed Friday, March 25, 2022, as the record date for the purpose of payment of dividends.

V-GUARD INDUSTRIES LTD Kotak Mahindra Mutual Fund bought 0.03% stakes (1,00,000 equity shares) of the company from the open market on March 10, 2022.

Thermax Ltd.: Kotak Mahindra Mutual Fund bought 0.013% stakes (15,000 equity shares) of the company from the open market on March 10, 2022.

DLF: Realty major DLF on Monday announced an investment of around Rs 550 crore to construct a one-million-square-feet office building for Standard Chartered Global Business Services' largest campus globally.

Bulk Deals

Paisalo Digital: Equilibrated Venture Cflow (P) Ltd bought 0.63% stakes (2,70,000 equity shares) in the company on March 14, 2022.

Bulk Deals

BSE: BNP Paribas Arbitrage have net bought 2,40,585 equity shares in the exchange via open market transactions at an average price of Rs 2,897.09 per share,
Integrated Core Strategies Asia Pte Ltd acquired 4,10,602 equity shares at an average price of Rs 2,895.8 crore per share

Dhampur Sugar Mills: Oregon Public Employees Retirement System purchased 4,62,371 equity shares in the sugar company via open market transactions. These shares were bought at an average price of Rs 492.28 per share

Rane Brake Lining: Promoter Rane Holdings bought 1.3 lakh shares in the company via open market transactions at an average price of Rs 605.94 per share. United India Insurance Company offloaded 1.25 lakh shares of the company at an average price of Rs 605.77 per share.

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